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Lone Star enters bidding fray for Corus property assets

A consortium comprising Lone Star Funds and Miami developer Crescent Heights is among nearly 10 suitors eyeing $5bn (€3.4bn) in condominium loans and other property held by the failed Corus Bank.

Other bidders in the auction being held by the Federal Deposit Insurance Corp. include a tie-up involving Related Cos. and Lubert-Adler Partners; Starwood Capital Group; and an investor group led by Colony Capital and iStar Financial, sources said.